MARKET TALK: Collins Stewart Raises ASOS Price Target

21st Jun 2010 10:17

0917 GMT [Dow Jones] Collins Stewart raises ASOS (ASC.LN) price target to 752p from 548p as it raises revenue forecasts on strong current trading. Says trading at ASOS is very strong, with revenues up 58% in the nine weeks to June 9. Notes this impressive level of growth has now been sustained over a more substantial period and the brokerage raises its FY '11 revenue forecasts to +35% from +32%. Raises '15 revenue forecast to GBP655M from GBP507M. Has the stock at hold. Shares +3% at 784p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 21, 2010 05:17 ET (09:17 GMT)